JoS. A. Bank Clothiers Reports 28.9% Increase in January Sales; Comparable Store Sales Gain 20.4%; Company Raises Earnings Guida
02 Febbraio 2006 - 11:00AM
Business Wire
JoS. A. Bank Clothiers, Inc. (Nasdaq National Market: "JOSB") today
reported that its total net sales for the fiscal month ended
January 28, 2006 (fiscal January 2005) increased 28.9% to $30.8
million, compared with $23.9 million in fiscal January 2004.
Comparable store sales increased 20.4% and combined catalog and
internet sales decreased 2.5% in fiscal January 2005, when compared
with the same prior-year period. While sales increased in all major
merchandise categories during January, continued strength has been
noted in blazers, sportcoats, sportswear and other key items in
which the Company has invested in recent months. The Company also
noted that it expects earnings per share for the fiscal year ended
January 28, 2006 (fiscal year 2005) to be at least $2.39,
representing at least a 39% increase when compared with earnings
per share of $1.72 in fiscal year 2004. The Company also noted that
its financing remains strong and there are currently no outstanding
borrowings under its $100 million credit agreement. The Company
also reported record sales for the fourth quarter and full fiscal
year. Total sales for the fourth quarter of fiscal year 2005
increased 28.1% to $163.8 million, compared with sales of $127.9
million in the prior year period. Total sales for fiscal year 2005
increased 24.7% to $464.6 million, compared with sales of $372.5
million in the previous fiscal year. Comparable store sales rose
15.9% and 10.6% in the fourth quarter and fiscal year 2005,
respectively. Combined catalog and internet sales increased 18.9%
and 21.7% in the fourth quarter and fiscal year 2005, respectively.
The Company will report its fourth quarter and fiscal year 2005
earnings on April 3, 2006. A conference call to discuss the
earnings press release will be held on Monday, April 3, 2006 at
11:00 a.m. Eastern Time (ET). To participate in the call on April
3, 2006 please dial (USA) 877-209-0397 or (International)
612-332-0530 at least five minutes before 11:00 a.m. ET. A replay
of the conference call will be available until April 10, 2006 at
11:59 p.m. ET by dialing (USA) 800-475-6701 or (International)
320-365-3844. The access code for the replay will be 817615. All
earnings per share amounts in this news release represent diluted
earnings per share adjusted for two stock dividends that were
distributed to stockholders in fiscal year 2004. The earnings per
share amounts have not been adjusted for the stock dividend that
the Company announced on December 14, 2005, under which
shareholders of record as of January 27, 2006 will receive one
additional share of common stock for each four shares then owned.
The dividend shares will be distributed to shareholders on February
15, 2006. The fiscal year 2004 earnings per share amounts included
in this news release give effect to the restatement of the
Company's financial statements to reflect the revision of the
Company's historical practices of accounting for lease transactions
as discussed in the Company's Annual Report on Form 10-K for the
fiscal year ended January 29, 2005. About JoS. A. Bank Clothiers,
Inc. JoS. A. Bank Clothiers, Inc., established in 1905, is one of
the nation's leading retailers of men's classically-styled tailored
and casual clothing, sportswear, footwear and accessories. The
Company sells its full product line through 324 stores in 40 states
and the District of Columbia, a nationwide catalog, and an
e-commerce website that can be accessed at www.josbank.com. The
Company is headquartered in Hampstead, MD, and its common stock is
listed on the NASDAQ National Market under the symbol "JOSB." The
Company's statements concerning future operations contained herein
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those forecast due to a variety of factors outside
of the Company's control that can affect the Company's operating
results, liquidity and financial condition. Such factors include
risks associated with economic, weather, public health and other
factors affecting consumer spending, the ability of the Company to
finance its expansion plans, the mix and pricing of goods sold, the
market price of key raw materials such as wool and cotton,
availability of lease sites for new stores, the ability to source
product from its global supplier base and other competitive
factors. Other factors and risks that may affect our business or
future financial results are detailed in our filings with the
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ended January 29, 2005. These
cautionary statements qualify all of the forward-looking statements
the Company makes herein. The Company cannot assure you that the
results or developments anticipated by the Company will be realized
or, even if substantially realized, that those results or
developments will result in the expected consequences for the
Company or affect the Company, its business or its operations in
the way the Company expects. The Company cautions you not to place
undue reliance on these forward-looking statements, which speak
only as of their respective dates, and assumes no obligation to
update any of the forward-looking statements. These risks should be
carefully reviewed before making any investment decision.
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